Question

Numerous Eastern European countries transitioned to capitalism in a relatively _____________ time period after the fall of the Soviet union.

Answer 1

Answer:

Numerous Eastern European countries transitioned to capitalism in a relatively short time period after the fall of the Soviet union.

Explanation:

The historical process of transition to capitalism initiated in the former planned economies of the former USSR, Eastern Europe and the People's Republic of China, among others, towards the 80s and 90s by the set of economic and political reforms known as perestroika and glasnost in the former USSR, with Gorbachev as president, or as socialism with Chinese characteristics in China, starting in 1978, under the government of Deng Xiaoping, had similar consequences in other former planned economies of satellite states.

This process would put an end in these states to its previous system based on state ownership of the means of production, the monopoly of foreign trade and the five-year plans, leading to privatization policies and the introduction and extension of private property in various sectors of the economy, which will characterize the subsequent post-communist period. The level of application or continuity of these measures has been variable from country to country, but almost all transitioned to capitalism in less than ten years.

Answer 2

Numerous Eastern European countries transitioned to capitalism in a relatively short time period after the fall of the Soviet union.